Dogecoin.

Is this crazy run gonna continue? Or is this all hype??? I own a few shares, not much at all. Had about 30 bucks left in a Robinhood acct one time i bought some when it was about 6 cents. O to have thrown 10k at it.

Put couple hundred in last weekend. Up 400% today. Sold enough to cover what I put in so playing with free money now. Still trying to figure the exit, probably just let it ride and see what happens

I I'm remembering correctly the guy who made it did it as a joke originally and it was basically worthless then it slowy gained popularity

It'll all come crashing down if I buy in

right there with ya

As Wolfdog pointed out it's essentially worthless. It's great people are making money on it but it won't last. I took the profits and moved them over. Put them in something that has long term value like Ethereum, Lightcoin, or the dreaded Bitcash.

What is the dollar based on? Imagination.
What is bitcoin based on? Imagination.
Same for completely made up dogecoin.
I am going to create and offer up dogturdcoin. I bet it will sell.
This world is absolutely upside down.

Haha I agree

The next Beanie Baby ‘s That’s all it is. Just cotton stuffing. MD

Well, "they" made millions selling "Pet Rocks".

Have you ever heard of the "Tulip mania of 1637?
I really don't see much difference.
https://en.wikipedia.org/wiki/Tulip_mania

Made more on doge in 6 weeks than I have in 18 months of my day job as an electrician. Took my winnings and reinvested it in guns,ammo,silver and uranium stock. I know it’s a joke coin but the $$ was very real. Safemoon has been exciting to own as well, bought in when it was 2 weeks old now I’m up 900%... I’ll laugh all the way to the bank

You should take it to the casino and try and double it now. LOL.

I'm glad some people have been able to acquire some real assets by playing with such crypto currencies. I'm too slow to do so. That's fine.

A bottom line question though is what is this run/desire with cryto currencies trying to fix in people's idea of an economic system? Is there the underlying fear that government fiat currency is basically rotten and will collapse and people will actually transition to such ways of buying things and acquiring "wealth"? OR do people just want to ignore government fiat currency because global governments (at least the big ones that count) huge amounts of control or at least perceived control...? The big governments of the world have allowed cypto cuurencies to exist to they must serve some function, perhaps mostly in the future. One be a way to shuck all the collective government debt if cypto currencies become a major factor in how people buy, sell, and accumulate "currency" and a cypto currency roll over is "clean" of the structural debt. Another reason may be more Biblical, as in found in Revelation...

NonPCfed I believe the crypto definitely has some strong points on a number of fronts in the current climate of the US. If the dollar does indeed collapse the crypto currency is definitely an alternative. I'm surprised more trappers on this site don't back it as they generally do not like government control and so far crypto seems to be out of the central bank's grasps.

If anyone doesn't think that crypto could take over the current banking system there were nearly 30,000 bitcoin ATM's in the US alone at the start of this year. Businesses are beginning to use it as a form of currency. The writing is on the wall.

That being said I've got plenty invested in the stock market, land, physical metals, etc. I won't put all my eggs in one basket but there's money to be made right now no matter how you look at it. I actually just got in on a dip this morning on MATIC. It should be a good buy up to $0.50 I got in when it dipped this morning to $0.33. It's up over 2000% in the last year. You're not going to make that kind of money letting your money sit in a jar in the yard or even in a central bank. That should make them nervous.

I think it's to new and people don't trust it yet.

DOGE is a great way to separate (would-be) Bitcoin from noobs. It has been pumped/dumped many times, granted not to this scale. This may not be evident when you price in USD but clear when priced in Bitcoin, see chart. Some will get lucky, many will be left bag holding. If you want exposure to this space find a reputable Bitcoin only exchange like River.com, Swan Bitcoin or CashApp and start accumulating.

This doge run along with china relasing a digital currency is going to hurt the real cryptos imo. Bitcoin is coming back down a good ways this week I think

Central Bank Digital Currencies (CBDC's) will only create more demand for a free and open network like Bitcoin. Think of CBDC's as a digital wallet holding "your" money like an app. Central banks will have full control over "your" wallet. They will be able to easily inject your UBI (stimulus), have full control over who you spend your money with and easily be able to add negative interest rates or a time limit on "your" money to punish savers and stimulate they economy how they see fit. CDBC's are an authoritarians dream come true.

Yeah, I guess I'm pessimistic that big governments are just going to let private cypto currency play all by themselves as a preferred way of doing commerce. So, they must be "tests" to see how people fully move to digital "money". Maybe Decoy/Macoy has it right. The big governments are seeing how the private ones work and then will make the private ones "offers they can't refuse ala Godfather style and use mostly their oiwn. Bitcoin and the others can't shut down the internet if they wanted, the big governments certainly can or at least make it a lot harder to use. Decoy/Macoy's discussion of CBDCs again reminds me of certain passages in Revelation. Take it or leave it...

If the Lord and monetary policy are your interests I highly recommend this book-- https://www.amazon.com/Thank-God-Bitcoin-Corruption-Redemption/dp/1641991216 (Disclaimer I personally have not read this but the authors are very solid people in Bitcoin that I trust for reliable information.

Can Crypto Escape the Dollar’s Gravity?

COMMENTARY
By Marc Chandler
April 16, 2021 1:02 pm ET



Elon Musk, no stranger to controversy, raised eyebrows when he said that his company bought $1.5 billion of Bitcoin. Shortly afterward, he confirmed that people can buy Tesla cars with Bitcoin. A payment system to make exchanges like this possible is springing up. Between credit card companies, banks, and hybrids like PayPal, room is being made for a new currency. Will these efforts displace traditional money? You can lead a horse to water, they say, but you can’t make it drink. There is good economic reason to believe that Bitcoin will not be used for transactions outside of the odd case.

Assume the best: Bitcoin is the real deal. Its limited supply and blockchain authentication make it better than fiat money like the dollar, which is constantly being diluted by a politically driven printing press. Gresham’s law states that bad money drives out good. That means the depreciating dollar will be used for transactions, and Bitcoin will be hoarded.

While cryptocurrencies are traded, they are not being truly used as a means of exchange. The daily volume is minor compared with their market cap. Studies have found that a high percentage of Bitcoins have not changed IP addresses for a couple of years. The more they are hoarded, the less they can achieve the networking effect that bestows money-ness, making it more of an asset than a currency, which is how the Internal Revenue Service regards crypto.

The dramatic rise in the price of Bitcoin and crypto more generally is a Rorschach test. One’s own hopes and fears are projected. It is providing new words for the old song about the decline of America and the role of the dollar. The linkages are not articulated, and the actual data are frequently not explored.

The International Monetary Fund’s latest report on the allocation of reserves showed that dollar holdings by central banks stood at a record high of a little more than $7 trillion at the end of last year. The dollar’s decline after surging at the pandemic’s onset bolstered other reserves when measured in dollars. Nevertheless, just the increase in dollar holdings in the past two years is greater than the total reserve holdings of the Chinese yuan.

The Federal Reserve offers custodial services to foreign central banks for their Treasury and agency holdings. In March, these holdings reached a record high of nearly $3.58 trillion. Contrary to the cries of doom and gloom, the lesson drawn from the 1997 Asian financial crisis, the 2008-09 financial crisis, and last year’s pandemic experience is that, when looking into the proverbial abyss, everyone wants dollars. A Bank of International Settlements study of dollar-funding of non-U.S. banks concluded that the dominance of the dollar in international finance and the attendant policy issues are likely to endure.

For all of its flaws, the greenback remains the most important invoicing and vehicle currency. Supply chains are often dollar-funded. The U.S. dollar is still on one side of more than 85% of the transactions in the $6.2 trillion-a-day foreign-exchange market. The dollar knows no rival. There is simply no compelling alternative. The Chinese yuan is not convertible and its markets not sufficiently transparent to take on a significant role. Europe’s monetary union is far from complete; progress toward a fiscal union is stuttering at best. Its bond market remains fragmented, appearing more like the U.S. municipal bond market than the Treasury market.

Former Bank of England and Bank of Canada Governor Mark Carney came to America’s heartland to attend the Fed’s Jackson Hole confab in 2019 and declared that the dollar was the cause of financial instability. He suggested a digital iteration of John Maynard Keynes’ idea of a bancor supranational currency proposed at Bretton Woods. Yet, it was the Fed’s swap lines with nine foreign central banks that helped stabilize the global capital markets a few months later. These dollar swap lines provided a powerful response during the 2008-09 financial crisis, as well.

Even many Americans who may disdain centralized authority in general concede some prerogatives to the state, like the provision of justice and the legitimate use of force. The power of coinage also resides with the state. History shows that centralized finance emerged to address the shortcomings of decentralized finance. The dollar’s role in the world economy is secured by several considerations outside of inertia: the security, transparency, and size of the U.S. Treasury market and the lack of a compelling alternative. The primary reason that crypto is even thought of as money is because it says it is, not because of its use. Its rival, as Fed Chair Jerome Powell noted, is with other non-interest-bearing assets like gold, not the dollar. That said, the public should reap the benefits of the new technology, and digital central-bank money is a likely expression. Public fiat will be preferred to private fiat.

Marc Chandler is chief market strategist, Bannockburn Global Forex.

https://www.barrons.com/articles/wi...exchange-51618592524?mod=hp_COMMENTARY_1

This paragraph and many like it in corporate media will someday be as infamous as ....

I don't believe I would use Paul Krugman as an example or comparison to anything

He's the perfect example of the entrenched elite that are either completely ignorant or evilly trying to steer the society towards more centralized control.

He's a shifty eyed little puke. If people's eyes are shifting while they're talking, they are scared of being boxed in, lying through their teeth, or both...

Men like Krugman are directing our monetary policy. The Chinese Yuan may not be ready yet for reserve status but it won't be long, especially if the Chinese or the BRICS nations in concert come out with a gold-backed currency. It's anticipated that by 2028 Chinese GDP will pass the US, more than likely it will be sooner.

The only "shortcoming" of decentralized financing is that the free market is in control and not governments. Most of the ills faced today wouldn't be an issue with a decentralized currency.

Once the dollar finally fails, most in the US will blame the Chinese and Russians when in reality they should be looking in the mirror.

Anyone buy in on COIN? Offered last WEDNESDAY. My understanding is the block chain technology to help make transactions easier for cryptocurrency between banks retailers etc....

I haven't purchased any COIN yet although I expect I will.

I'm not even remotely close to a blockchain guru but its about much more than that. Even if bitcoin, cryptocurrencies and banking disappears, blockchain technology is here to stay

I don’t understand much of any of this at all. My son tried to explain Bitcoin to me. Over my head. I plan on joining the COIN crowd this week

Are you talking about buying the stock ??


I agree with Steven. The real, and maybe only, benefit of Bitcoin is the blockchain technology

Yes. Coin Stock But since it just became available last Wednesday. It may still be on the slide down. So I will just sit and monitor it. I have stock in a Block chain company already. As usual I bought on the high. It slid and holding at a buck. The technology stocks I am not comfortable at all investing in them. I just read this morning Coin stock spooked Bitcoin. OMG. So now they are all going down. Where who knows. I guess invest for the long haul. But I hate buying high and then it tanks. After the GEO tumble. Just an FYI. I did recoup that blunder. White. Buy the hairs on my chinny chin chin.

LOL !!! Well that's good news !!

I think the COIN IPO proves that the old view of markets as rational.......is completely wrong. But I also believe that markets can remain irrational longer than most people can stay solvent.

We are in some treacherous waters IMO

Invest in traps. Fur might go up again.

Wayne, I'm not sure you understand what COIN does, it's not a technology company. It doesn't have anything to do with developing blockchain or other tech. It's sole reason for existence is to be a platform that facilitates the trading of cryptocurrencies. Maybe you do understand, just wanted to make sure.

I doubt if COINS listing played a part in bitcoin dropping in the last 36 hours. More like typical volatility in this market.
Now let us discuss investing in COIN. Me, I'll trade it. Invest? Nah, I consider investments a long-term play. I think that if someone is going to play COIN long term they may as well buy bitcoin, it's superior IMHO.

Ken will disagree lol.

Free markets are rational, crony capitalism not so much. There is a reason it takes over 3 dollars of stimulus to raise gdp one dollar.

I understood I thought that is what COIN was. Like how CC swipes are transferred. I have only been trading on my own for 4 yrs. I did it solely due to nothing available for interest in a regular saving account. My rule is to invest in companies that pay dividends. This will be used for income down the road. I also trade. But now with this new administration and there policies and politics I am finding it difficult. But as anything. The harder you try the luckier you become. But I do appreciate the advice and explanations. From you both. Thank you. I will watch COIN stock this week. Maybe get it a little cheaper since the hype hopefully has cooled.

I bought exactly 3 shares of COIN, at $334., to keep it on my radar. I will probably sell it next week, up or down.
This is a great time to buy more Berkshire Hathoway.

According to The Block, roughly 9 billion in long positions were liquidated early sunday. Since then BTC has recovered about half the loss. According Coindesk there was a rumor floated that the Treasury was going charge some institutions for money laundering with cryptos and CNBC brought reposted a story about India possibly banning cryptos there and other outlets ran with the story

I DO disagree While I think COIN has a viable business in the long run, I don't have that belief about Bitcoin. Too much political risk.

On the other hand I would not buy COIN unless the price dropped by 50% or greater. When you consider that COIN listed on NASDQ ......and that at the current share price it is worth more than the entire NASDQ business, I find that to be ridiculous. COIN exists on fees it earns facilitating trades between BTC players. That's all well and good but do you think that other exchanges are not going to compete with lower fees and thus take market share ?

Look at the way that online brokers have reduced retail trading costs to zero. That same fee structure will find it's way into the business of COIN> No way IMO is COIN worth a hundred billion dollars at this point..........but that is what its share price is telling us.

It may very well continue to climb. That doesn't mean it's worth owning....at least not for me.

AK Viking is correct that Berkshire Hathaway looks better all the time........at least relative to COIN
'

Send me some cash-I'll ship you some doggie coins.

I know yahoo finance isnt the best source but the first link to come up... says its overvalued with -49% est return. Coinbase(COIN) is the platform i use but I just dont see the stock price being that stable unless they've put all the transaction fees they're getting into cryptos.. Obviously cheaper platforms could cause even more issues but depending on how many people are daytrading cryptos vs buy 'n hold as the latter would be less effected by the fees.

Ken, I agree with everything in your last post. Bitcoin does have a lot of political risk but does it have any more than the dollar retaining reserve status? Governments will try to make it illegal. They'll try just like heroin, marijuana, and other illegal activities. The gubbemint would have a better chance of putting the 80 percent lower back in the bottle.

If COIN retraces 30 percent I'll think about entering.

The best investment advice I can give is primers. Bought some on Monday sold them today and quadrupled my initial investment.

Thanks guys. Appreciate the advice.

As someone in the Bitcoin/blockchain/"crypto" space for over 4 years this is 100% backwards IMO. A blockchain is just a database for storing information. What makes it unique (in Bitcoins "blockchain" network ) is that it is distributed to 10,000-100,000 people worldwide that are all running the same/similar software. These are called nodes. These nodes contain the entire history data of every transaction that has happened on the network and they also help to enforce the rules of the network. A node if different from a "miner" in that they too are running a node but are also dedicating large amount of computing power to solve math in order to create a new block in the blockchain . For this the miners earn the transaction fees along with a block reward (new Bitcoin created). A new block in the blockchain is created on average every 10 minutes. Without getting crazy technical, this needs to be "slow" in order for everyone in the network to remain in consensus. If anyone tries to change any rules they split from the network. In order for any rules to change nearly 100% of the network must agree. TLDR: blockchain is not magic fairy dust, it is a slow distributed database that is extremely hard to change.

Why would people run nodes in the blockchain network you ask? I run a Bitcoin node on a small raspi computer in my basement. I use this node to verify that the Bitcoin I own is truly mine. IE I don't have to trust someone else to tell me what I own. My node also enforces the rules that I want the network to follow. No, I did not write the code myself, but the code I am running is completely open source and peer reviewed by 1000's of the smartest people on the planet. Not completely trustless but extremely trust-minimized.

Now you know what an actual blockchain is you could tell me what this "blockchain technology" could apply to in the future besides to Bitcoin? IMO "blockchain" is a marketing ploy to sound smart on something very few people understand. I've seen companies promoting blockchain "we use blockchain to track bananas supply chain...." LOL... no they don't. And if they did it would be a massive waste. Why would a centralized company want to create a slow distributed database to track bananas and why on earth would anyone beside the centralized company what to run the banana blockchain software?

Please don't take any of this as a personal attack, I fell for the "blockchain tech" snake oil in 2017 as well.

EDIT: here is a good anology..... Someone in the 90's selling you on "TCP/IP technology". What is TCP/IP technology? You all are using it right now, its how the internet works. There are lots of closed networks but (really) only one open internet.

I have to wonder......if you are correct, why are companies such as Visa & Mastercard getting into Blockchain ?
It sure isn't so their customers can trade or use Bitcoin. That market is too small to move their needle relative to the expense of the change-over in their technology. Its because they view the technology as more secure for record keeping of billions of transactions and likely it will be faster than their current technology..............allowing them to process more transactions per second, more securely.

Ditto the financial markets. Currently it takes 3 days to "settle" a stock transaction.........one of the reasons the whole Gamestop/Robinhood issue caused so much whining. If blockchain can cut that by one day, it's huge. It also creates a much easier audit trail that everyone can see if there are disputes over trades.

Also, since I'm ranting, I wouldn't touch Coinbase ($COIN) with a 10' pole. Here is most of their business model: VC/tech insiders create a new flashy blockchain project and/or new token on an existing blockchain. They "pre-mine" a bunch of tokens for themselves. They then pay Coinbase to list their useless token and pay influencers to promote it. The token gets listed on Coinbase then the VC's/tech insiders dump the useless tokens on retail investors. This is hilarious because it is EXACTLY what they just did with their $COIN equity IPO.

Coinbase insiders dump nearly $5 billion COIN stock on opening day

Coinbase does have a very thriving Bitcoin custody product but I wouldn't trust then with a 1 sat of my BTC (1 sat = 1/100,000,000 of a Bitcoin). They have always been WAY behind in latest Bitcoin technology because their focus is shatcoins. Also they have been on the wrong side of history many times in regards to proposed changes to Bitcoin.

All this said, $COIN could easily go to $XXXXX. Similar to DOGE, don't fall in love with it and be left holding the bag when the music stops.

They can call it whatever they want but if a centralized company (Visa) is creating a new type centralized database (why would they distribute their database?) is it really a blockchain?

"The bitcoin market is too small"--- I don't love the "market cap" (existing supply x $price) metric as it can be very deceiving in illiquid networks in crypto-land but Bitcoin is extremely liquid worldwide and has a market cap is over $1 trillion. All the gold that exists has a roughly market cap of $10 trillion. Trust me Bitcoin is "moving the needle".

If 84% of American adults have no interest in or knowledge of bitcoin, ( that is what surveys show) then my point is that Visa is getting into blockchain for reasons other than bitcoin trading or usage. THAT percentage of Visa's business would be too small to justify their transition to blockchain. Bitcoin won't move the needle for Visa, but blockchain could by reducing processing costs.

Well Dogecoin didn’t die yet!!

Slow death

I have 4661 coins, some at .07 up to .58, most of them I bought at 25 to 30 cents. It's a fun hobby for retirement and this one might make me money, then I can buy more traps. Back up to 68 cents now. Likely will take out my initial investment before Sunday and play with their money after that. There should be a big correction Sunday. Mike

Keeps going up.

Seems like it’s all over the place leading up to SNL tonight, keep ‘er climbin!

Have an exit plan boys, this one is going to zero. In the meantime there will be money to be made on the volatility